SBI ties up with Mahindra group company

Moneycontrol Bureau

India's largest lender State Bank of India (SBI) on Friday tied up with EPC Industrie, a part of the nearly USD 1600 crore Mahindra group and engaged in manufacturing and selling of micro-irrigation systems, crop management services and agriculture pumps.

"The tie-up will help farmers increase their acreage under irrigation by minimum use of available water resource. This will, in turn, increase their productivity and profitability," the bank said in a release.

EPC will assist the Bank in identifying eligible farmers with a requirement for micro irrigation systems, crop management services, agriculture pumps, etc. It is expected that a large number of farmers will be financed through this tie-up in the coming months as use of water-saving methods like drip and sprinkler irrigation method, is being encouraged by various state governments.